Riyadh Cables Q1 2024 profit after minorities up 36% to SAR 170.2M

Riyadh Cables Q1 2024 profit after minorities up 36% to SAR 170.2M

13/05/2024 Argaam Exclusive

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Riyadh Cables Group Co. reported a net profit after minority interest of SAR 171.2 million in Q1 2024, up 36% from SAR 124.9 million in the year earlier period, spurred higher revenue on increased sales volume.



Current Quarter Comparison (M)

Compared With The
Item Q1 2023 Q1 2024 Change‬
Revenues 1,937.28 2,031.55 4.9 %
Gross Income 218.74 283.20 29.5 %
Operating Income 167.61 215.15 28.4 %
Net Income 124.92 170.22 36.3 %
Average Shares 150.00 150.00 -
EPS (Riyals) 0.83 1.13 36.3 %

On a sequential basis, net earnings grew 26.9% from SAR 134.15 million in Q4 2023.

 

Total shareholders’ equity, after minority interest, stood at SAR 2.43 billion as of March 31, 2024, compared to SAR 2.26 billion in the prior-year period.

View More Financial Results

 


Financial results (Million)

Period Revenues Change Gross Income Change Net Income Change EPS(Riyal)
Q1 2015 - - - - - - -
Q2 2015 - - - - - - -
Q3 2015 - - - - - - -
Q4 2015 - - - - - - -
Q1 2016 - - - - - - -
Q2 2016 - - - - - - -
Q3 2016 - - - - - - -
Q4 2016 - - - - - - -
Q1 2017 - - - - - - -
Q2 2017 - - - - - - -
Q3 2017 - - - - - - -
Q4 2017 - - - - - - -
Q1 2018 - - - - - - -
Q2 2018 - - - - - - -
Q3 2018 - - - - - - -
Q4 2018 - - - - - - -
Q1 2019 - - - - - - -
Q2 2019 - - - - - - -
Q3 2019 - - - - - - -
Q4 2019 - - - - - - -
Q1 2020 - - - - - - -
Q2 2020 - - - - - - -
Q3 2020 - - - - - - -
Q4 2020 - - - - - - -
Q1 2021 - - - - - - -
Q2 2021 - - - - - - -
Q3 2021 1,251.87 - 103.43 - 36.16 - 0.24
Q4 2021 1,396.15 - 129.56 - 84.89 - 0.57
Q1 2022 1,561.18 - 151.85 - 85.01 - 0.57
Q2 2022 1,691.10 - 141.74 - 68.26 - 0.46
Q3 2022 1,769.30 41.3 % 163.92 58.5 % 92.73 156.4 % 0.62
Q4 2022 1,830.72 31.1 % 189.59 46.3 % 106.32 25.3 % 0.71
Q1 2023 1,937.28 24.1 % 218.74 44.0 % 124.92 46.9 % 0.83
Q2 2023 1,917.53 13.4 % 236.71 67.0 % 126.97 86.0 % 0.85
Q3 2023 2,080.72 17.6 % 279.21 70.3 % 132.73 43.1 % 0.88
Q4 2023 1,889.86 3.2 % 238.11 25.6 % 134.15 26.2 % 0.89
Q1 2024 2,031.55 4.9 % 283.20 29.5 % 170.22 36.3 % 1.13

Profitability

Period Gross Margin OIBDA Margin Net Margin Before Unusual Items
Q1 2015 - - -
Q2 2015 - - -
Q3 2015 - - -
Q4 2015 - - -
Q1 2016 - - -
Q2 2016 - - -
Q3 2016 - - -
Q4 2016 - - -
Q1 2017 - - -
Q2 2017 - - -
Q3 2017 - - -
Q4 2017 - - -
Q1 2018 - - -
Q2 2018 - - -
Q3 2018 - - -
Q4 2018 - - -
Q1 2019 - - -
Q2 2019 - - -
Q3 2019 - - -
Q4 2019 - - -
Q1 2020 - - -
Q2 2020 - - -
Q3 2020 - - -
Q4 2020 - - -
Q1 2021 - - -
Q2 2021 - - -
Q3 2021 - - -
Q4 2021 - - -
Q1 2022 - - -
Q2 2022 8.92 % 6.85 % 4.65 %
Q3 2022 9.15 % 7.31 % 4.84 %
Q4 2022 9.44 % 7.46 % 4.84 %
Q1 2023 9.88 % 8.00 % 5.28 %
Q2 2023 10.85 % 8.61 % 5.94 %
Q3 2023 11.90 % 9.25 % 6.57 %
Q4 2023 12.43 % 9.57 % 6.98 %
Q1 2024 13.10 % 10.06 % 7.32 %


Per Share Data (Riyal)

Compared With The
Period Shares Outstanding (M) EPS (Riyal) Adjusted EPS (Riyal) Book Value (BV)
Q1 2015 - - - -
Q2 2015 - - - -
Q3 2015 - - - -
Q4 2015 - - - -
Q1 2016 - - - -
Q2 2016 - - - -
Q3 2016 - - - -
Q4 2016 - - - -
Q1 2017 - - - -
Q2 2017 - - - -
Q3 2017 - - - -
Q4 2017 - - - -
Q1 2018 - - - -
Q2 2018 - - - -
Q3 2018 - - - -
Q4 2018 - - - -
Q1 2019 - - - -
Q2 2019 - - - -
Q3 2019 - - - -
Q4 2019 - - - -
Q1 2020 - - - -
Q2 2020 - - - -
Q3 2020 - - - -
Q4 2020 - - - -
Q1 2021 - - - -
Q2 2021 - - - -
Q3 2021 150.00 - - -
Q4 2021 150.00 - - 13.57
Q1 2022 150.00 - - 14.07
Q2 2022 150.00 1.83 1.83 12.78
Q3 2022 150.00 2.21 2.07 13.17
Q4 2022 150.00 2.35 2.21 14.14
Q1 2023 150.00 2.61 2.54 15.12
Q2 2023 150.00 3.01 2.95 14.21
Q3 2023 150.00 3.27 3.40 15.16
Q4 2023 150.00 3.46 3.64 14.98
Q1 2024 150.00 3.76 3.87 16.24

Multiple Ratios (End of Period Price)

Compared With The
Period P/E Adjusted P/E Price/book
Q1 2015 - - -
Q2 2015 - - -
Q3 2015 - - -
Q4 2015 - - -
Q1 2016 - - -
Q2 2016 - - -
Q3 2016 - - -
Q4 2016 - - -
Q1 2017 - - -
Q2 2017 - - -
Q3 2017 - - -
Q4 2017 - - -
Q1 2018 - - -
Q2 2018 - - -
Q3 2018 - - -
Q4 2018 - - -
Q1 2019 - - -
Q2 2019 - - -
Q3 2019 - - -
Q4 2019 - - -
Q1 2020 - - -
Q2 2020 - - -
Q3 2020 - - -
Q4 2020 - - -
Q1 2021 - - -
Q2 2021 - - -
Q3 2021 - - -
Q4 2021 - - -
Q1 2022 - - -
Q2 2022 - - -
Q3 2022 - - -
Q4 2022 15.43 16.40 2.56
Q1 2023 20.23 20.81 3.50
Q2 2023 21.75 22.16 4.60
Q3 2023 21.05 20.26 4.55
Q4 2023 26.77 25.42 6.18
Q1 2024 26.22 25.50 6.07

Business Segments (Million)

Compared With The
Period Cables and Wires HV Projects Other
Q3 2021 1,204.66 22.08 25.11
Q4 2021 1,372.71 16.66 6.79
Q1 2022 1,550.30 6.39 4.50
Q2 2022 1,666.11 19.40 5.59
Q3 2022 1,772.57 - (3.27)
Q4 2022 1,783.67 44.14 2.91
Q1 2023 1,878.44 51.73 7.11
Q2 2023 1,880.78 27.76 8.98
Q3 2023 1,999.08 72.25 9.38
Q4 2023 1,823.78 66.15 (0.06)
Q1 2024 1,970.33 55.64 5.58

Analysts Estimates (Million)

Item Q1 2024 (e) Q1 2024 (a) Change‬
Average 145.29 170.22 17.15 %

Estimates vs Actual (Million)

Item Q1 2024 (e) Q1 2024 (a) Change
Value Capital 151.17 170.22 12.6 %
GIB Capital 148.00 170.22 15.0 %
Al Rajhi Capital 143.00 170.22 19.0 %
Riyad Capital 139.00 170.22 22.5 %


Financial Ratios
Current
Market Cap (M Riyal) 15,840.00
Enterprise Value (EV) (M) 16,356.03
Shares Outstanding ((M)) 150.00
EPS ( Riyal) (TTM) 3.76
Book Value (BV) ( Riyal) 16.24
Par Value ( Riyal) 10.00
Adjusted P/E (Last12) 27.31
P/E (TTM) 28.08
Price/book 6.50
Return on Average Assets (%) (TTM) 11.2
Return on Average Equity (%) (TTM) 24.0
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Share Price

Riyadh Cables Group Co.
105.60
0.00 0.00 %

Riyadh Cables Group Co. (RIYADH CABLES)

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